Phil Knight, the founder of Nike, recently mentioned in a podcast of the Stanford Business school, that when you are a small entrepreneur, there is a crisis every day and a ‘Jesus Christ’ at the end of every month! While the wording and the chutzpah of the assertion make you smile, it is a stark reality too. It is not an easy life, and life is a series of insecurities in the formative years as an entrepreneur.
Business plans are something a lot of entrepreneurs work on nearly every day of their waking life as a busy entrepreneur. It is often a dynamic document, and the shelf life of these documents are diminishing. It is not just the vagaries of the business landscape and the complex machinations of competition, but also the forces of nature which disrupt the best-laid plans. Business risks have never been new to the entrepreneur, and every business has an intuitive feel of the impact and the extent to which they need to be looked at and planned for. The recent spate of floods in Kerala is a classic example of disruptions. No data prepares you to expect such a Black Swan event – first in a hundred years!
So is there a point in all these planning? There is, and there is more need than ever before. For starters, it is increasingly clear that climate presents challenges more than ever before. While a flood of this rage and fervor may not be a yearly reality, it is best to expect force majeure more often than not. A standard business plan, which looks at your product and service, stresses on the financial health, the sound marketing plan, futuristic resource plan, and an ambitious fundraising plan. But, we often do not look at concepts like Insurance.
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Denne historien er fra December - January 2020-utgaven av UNIQUE TIMES.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Bhutan: The Enchanting Jewel Of The Himalayas
Majestic snow-capped mountains, picturesque valleys, verdant forests, centuries-old Buddhist shrines and monasteries, fluttering prayer flags, a serene way of life and folks boasting the best happiness index in the world...this Land of the Thunder Dragon has much more to entice those with wanderlust.
Bail - Emerging Trends In The Context Of Money Laundering Laws
The Hon'ble Supreme Court in case of Manish Sisodia Vs Directorate of Enforcement 2024 SCC Online 1920 has upheld certain key propositions that where a trial has not merely been delayed but has not even commenced after a long period of incarceration, the same would be violative of Article 21 of the Constitution of India.
Toyota, Maruti Suzuki Boost Hybrid Vehicle Sales in Uttar Pradesh Amid Tax Waivers, Spark Industry Debate
Toyota and Maruti Suzuki are ramping up marketing efforts for hybrid vehicles in Uttar Pradesh, leveraging new state tax waivers that offer buyers savings of up to $15,800 on luxury models like the Toyota Vellfire.
Supreme Court Rejects AAP Government's Plea to Expand NRI Quota in Punjab Medical Colleges
The Supreme Court rejected the AAP-led Punjab government's plea challenging the High Court's ruling against expanding the ‘NRI quota’ to include distant relatives for medical and dental college admissions.
USA's Delaware Supreme Court Confirms Byju's Default on $1.2-Billion Loan Amidst Ongoing Insolvency Proceedings
The Delaware Supreme Court has upheld a ruling that edtech firm Byju's defaulted on a $1.2 billion Term Loan B (TLB), validating claims made by US-based lenders.
India Approves Rs 3,300 Cr Semiconductor Packaging Plant in Gujarat, to Boost Chip Production
The Union Cabinet has approved a Rs 3,300 crore proposal from electronics manufacturer Kaynes to establish a semiconductor packaging plant in Sanand, Gujarat.
Thar Roxx: Your Perfect Off-Road Companion
To say that Mahindra knows the Indian customer really well, will be an understatement. Their biggest hits have come in various forms over the years, from the XUV500 to the XUV700 and the Scorpio N in recent times.
Exfoliate Your Way to Flawless Skin
Imagine waking up to smooth, glowing skin every day—skin that feels soft to the touch and looks naturally radiant without the need for heavy makeup or filters.
The Stinking Rose: Flavourful and Full of Health
Garlic, the humble bulb with a pungent aroma and a rich history dating back thousands of years, has earned a reputation not only in culinary delights but also as a powerhouse of health benefits.
Never give up!
In the earlier stage of your life, it was someone else who might have been gravely instrumental in shaping your viewpoints. Hence, it is supremely important to re-evaluate what you believe in, when you become an adult.